Hsbc Holdings PLC Acquires 187 Shares of RLI Corp (RLI)

Hsbc Holdings PLC lifted its position in shares of RLI Corp (NYSE:RLI) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,253 shares of the insurance provider’s stock after purchasing an additional 187 shares during the period. Hsbc Holdings PLC’s holdings in RLI were worth $225,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can lifted its stake in shares of RLI by 6.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 51,487 shares of the insurance provider’s stock valued at $3,277,000 after buying an additional 3,049 shares during the period. Citigroup Inc. raised its stake in RLI by 39.8% during the fourth quarter. Citigroup Inc. now owns 14,779 shares of the insurance provider’s stock worth $1,019,000 after purchasing an additional 4,204 shares during the period. Advisor Group Inc. raised its stake in RLI by 10.5% during the fourth quarter. Advisor Group Inc. now owns 2,922 shares of the insurance provider’s stock worth $201,000 after purchasing an additional 278 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in RLI by 9.6% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,933 shares of the insurance provider’s stock worth $2,341,000 after purchasing an additional 2,965 shares during the period. Finally, Texas Permanent School Fund raised its stake in RLI by 4.3% during the fourth quarter. Texas Permanent School Fund now owns 25,617 shares of the insurance provider’s stock worth $1,767,000 after purchasing an additional 1,066 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

RLI has been the topic of a number of recent analyst reports. Zacks Investment Research reaffirmed a “hold” rating on shares of RLI in a research note on Monday, December 31st. TheStreet downgraded shares of RLI from a “b” rating to a “c” rating in a research note on Wednesday, January 23rd. Finally, Compass Point initiated coverage on shares of RLI in a research note on Tuesday, January 15th. They set a “sell” rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. RLI presently has an average rating of “Hold” and an average target price of $63.50.

In related news, Director Michael J. Stone sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $70.44, for a total transaction of $704,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Stone sold 15,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $79.19, for a total transaction of $1,187,850.00. The disclosure for this sale can be found here. Insiders sold 30,437 shares of company stock valued at $2,256,787 in the last three months. Company insiders own 5.01% of the company’s stock.

Shares of RLI stock traded up $0.32 during trading hours on Wednesday, hitting $79.25. The company’s stock had a trading volume of 188,100 shares, compared to its average volume of 129,451. RLI Corp has a 1-year low of $62.30 and a 1-year high of $80.17. The firm has a market capitalization of $3.49 billion, a P/E ratio of 38.66 and a beta of 0.93. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.17.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12. RLI had a net margin of 13.11% and a return on equity of 11.36%. The company had revenue of $221.25 million during the quarter. On average, research analysts expect that RLI Corp will post 2.23 EPS for the current fiscal year.

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About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.

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Institutional Ownership by Quarter for RLI (NYSE:RLI)

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